Suraj Industries Limited has reported a revision in its shareholding in Shri Gang Industries and Allied Products Limited, following a significant share capital restructuring at Shri Gang. The stake now stands at 20.10% of Shri Gang's increased paid-up equity share capital.

Share Conversion and Capital Restructuring

Shri Gang Industries and Allied Products Limited recently completed an allotment of 3,50,000 equity shares, each with a face value of Rs. 10.00. This allotment was the result of converting an equal number of 0.01% Compulsorily Convertible Preference Shares (CCPS) at a conversion price of Rs. 76.00 per share. The conversion was executed through a preferential allotment to investors in the public category.

Impact on Share Capital

As a consequence of this share conversion, Shri Gang's paid-up equity share capital has seen a notable increase:

The conversion has resulted in an increase of Rs. 35,00,000 in the paid-up equity share capital and an addition of 3,50,000 equity shares.

Regulatory Compliance

Suraj Industries Limited made this disclosure in compliance with Regulation 30 of the SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015. The company's Company Secretary and Compliance Officer, Snehlata Sharma, signed the regulatory filing.

This share capital restructuring at Shri Gang Industries and Allied Products Limited and the subsequent revision of Suraj Industries' stake highlight the dynamic nature of corporate ownership structures in the Indian market. Investors and market watchers will likely keep a close eye on any further developments or strategic moves resulting from this change in shareholding pattern.

Suraj Industries has taken a significant step towards enhancing its financial flexibility. During the company's 33rd Annual General Meeting (AGM) held on August 26, 2025, shareholders approved key amendments to the Memorandum of Association, most notably setting the authorized share capital at Rs 50 crore.

Key Highlights

• Authorized Share Capital: The amendment to Clause V of the Memorandum of Association sets the authorized share capital at Rs 50.00 crore, divided into 5.00 crore equity shares of Rs 10.00 each.
• Shareholder Approval: The changes were approved during the 33rd AGM, which was conducted through video conferencing in compliance with regulatory requirements.
• Regulatory Compliance: The company has duly informed the BSE Limited about these amendments, adhering to SEBI regulations.

AGM Proceedings

The 33rd AGM, chaired by Mr. Sanjay Kumar Jain, Non-Executive Chairperson of the Board, covered several important agenda items:

1. Adoption of audited standalone and consolidated financial statements for the fiscal year ended March 31, 2025.
2. Reappointment of Mr. Sanjay Kumar Jain, who retired by rotation, as a director.
3. Appointment of a new secretarial auditor.
4. Appointment of Mr. Sanjeev Mitla as an Independent Director and re-appointment of Mrs. Pooja Solanki as an Independent Director.
5. Approval for the extension of the remuneration period for Mr. Suraj Prakash Gupta, Managing Director, until the completion of his current tenure.
6. Consideration and approval of material related party transactions with various entities.

Corporate Governance

The company reported that there were no qualifications, observations, or adverse remarks in the Auditor's Reports on both Standalone and Consolidated Financial Statements for the financial year 2024-25. Similarly, the Secretarial Audit Report confirmed compliance with applicable laws without any qualifications or adverse comments.

Snehlata Sharma, Company Secretary and Compliance Officer of Suraj Industries, stated, "The amendments to our Memorandum of Association, particularly the increase in authorized share capital, position us well for future growth opportunities."

This development signals Suraj Industries' preparedness for potential expansion or capital-raising initiatives, although specific plans were not disclosed during the AGM.

Investors and stakeholders will be keen to observe how the company utilizes this increased capital authorization in its future strategic decisions.